We've been extending unemployment benefits for the long-term unemployed for years now. This has provided needed relief to the jobless but it is very likely contributing to the problem of unemployment.
Jobless benefits, especially as ours are currently structured, tend to create unemployment. Instead of doing the same thing we've been doing—extending unemployment benefits—and expecting different results, it's time to rethink unemployment benefits.
In a recent post at Business Insider, Joe Weisenthal argued that "it's a total scandal" that a budget deal was reached this week without any agreement to extend unemployment benefits. His reasoning is almost as straight-forward as it is wrong.